Accounting giant WHK Group has beefed up its presence across the Tasman snapping up a fifth New Zealand firm, announced on Friday.
It has announced its growth strategy involves developing financial planning services within each New Zealand member business.
WHK Group has acquired Taylor McLachlan, a regional accounting business in Dunedin, New Zealand, which has five partners and annual revenue of $6.5 million.
The move will strengthen WHK Group’s presence in the South Island growth regions of Southland and Otago.
“This transaction will extend WHK Group’s network of New Zealand member firms to five and further strengthen WHK group’s leading position in the New Zealand mid-tier, SME and high net worth markets,” WHK Group company secretary Bruce Paterson said.
The deal will be effective from June 1 and involves cash and the issue of 380,000 WHK Group shares.
Its New Zealand growth strategy includes develop financial planning services within each member firm, expanding the network and broadening market coverage.
The transaction will increase the total acquired revenue in the current financial year to $41.6 million.
Its New Zealand business are: WHK Gosling Chapman, Auckland; WHK Coffey Davidson, Hawker Bay; Sherwin Chan & Walshe, Wellington, WHK Taylors, Dunedin/Otago and WHK Cook Adam Ward Wilson, Southland/Central Otago.
